The GDP Growth in Poland After the Pandemic in Numbers

The global pandemic has had its economic effects worldwide and Poland is not an exception. Although it has had a major impact on GDP growth in Poland during this tough period, Poland has become one of the beneficiaries of the new nearshoring trend.

As a result, Poland’s economy will likely expand by 5 percent in the coming two or three years, according to the head of the Polish Development Fund. He states, that the country will return to its pre-pandemic economic activity in the third quarter. So most likely it will be among the first three countries in Europe to make up for the losses.

What is Important in GDP Growth in Poland:

Moreover, in the Doing Business 2020 ranking, in which the World Bank’s economists evaluate regulations facilitating business activity, Poland scored 76.4 out of 100, which means 40th position among 190 world economies. Poland’s performance exceeded those of other Central and Eastern European countries, including the Czech Republic, Slovakia, Hungary and Romania. The Polish economy is also not far behind Western European countries such as Germany and France, which scored 79.7 and 76.8, respectively.

The current economic data show that 80-90 % of all sectors have already returned to very good condition, while the ones that have been closed due to the pandemic can start operating regularly again to compensate for the loss.

As for inflation, Borys said that, at the moment, it was not a barrier to economic development: “It is better to be overcoming the crisis with higher inflation than with high unemployment”.

The Consumer Price Index (CPI) increased by 4.8 % yearly and by 0.3 % monthly in May 2021, according to the Central Statistical Office’s estimate.

The GDP growth in Poland was worth 592.16 billion USD in 2019, according to official data from the World Bank and projections from Trading Economics. The GDP growth in Poland represents 0.49 percent of the world economy. According to Trading Economics global macro models and analysts’ expectations, GDP in Poland is expected to reach 550.00 Billion USD by the end of 2021.

Implications for Banking and Business

Developments in the Polish banking sector affect businesses operating in the country in several ways. Access to corporate banking services, credit availability, deposit rates, and payment infrastructure are all critical factors for companies — whether established Polish firms or foreign-owned entities entering the market.

For foreign entrepreneurs setting up operations in Poland, choosing the right banking partner is a strategic decision. Major Polish banks including mBank, ING Bank Śląski, Bank Millennium, PKO BP, and Santander Poland offer varying levels of service for international clients, including English-language online banking, multicurrency accounts, and dedicated relationship managers for corporate clients.

The Polish banking market is well-regulated by the KNF (Financial Supervision Authority) and participates in the EU deposit guarantee scheme (BFG — Bank Guarantee Fund), providing deposit protection up to EUR 100,000 per depositor per institution. This regulatory framework provides stability and confidence for businesses maintaining corporate funds in Polish banks.

If you are doing business in Poland or considering entering the Polish market, Zalewski Consulting can help. Learn more about our bank account opening services, or contact us for a free consultation.